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Sunshine Heart Inc Closes Public Offering Of Common Shares


Tuesday, 24 Sep 2013 11:41am EDT 

Sunshine Heart Inc announced the closing of its previously announced underwritten public offering of 4,381,500 shares of its common stock, which includes the full overallotment of 571,500 shares, at a price to the public of $10.50 per share. The net proceeds from the sale of shares by Sunshine Heart, after underwriting discounts and other offering expenses, total approximately $42.6 million. Piper Jaffray & Co. and Cowen and Company, LLC acted as joint book-running managers and Lazard Capital Markets LLC acted as co-lead manager for the offering. Craig-Hallum Capital Group and Northland Securities, Inc. acted as co-managers for the offering. Sunshine Heart intends to use the net proceeds from the offering for general corporate purposes, including its ongoing U.S. pivotal trial and post-market EU study, initial commercialization of the C-Pulse Heart Assist System, or C-Pulse System, in the EU, and product development activities. 

Company Quote

4.99
-0.03 -0.60%
11:10am EDT